exactly - which is why if you are trading this, use smaller time
frames and bookem danno on you trades - get a lot of whip
but the intra day volatility in this market can be 30 - 50
points, so you can get nice quick trades on that - again you have
to have your strategy down, charts ready, disciplined
one very simple strategy that works very well, but requires you
to be patient and wait for the setup, but works, is taking
objective long or short trades near the 61.8% Fib retracements,
they are very high probability. Again, requires you to wait for
them and being patient, like lion waiting in the weeds for the
right opportunity like a sick older animal or young not able to
keep up with the herd, vs just chasing any pray that walks
by.
Patience and waiting for the right setup is one of the hardest
things to do for most. Again that's with whatever your strategy and
setup is - waiting for it and not doing trades just to do
trades
SPX 3 and 5 min
Posted by matt on 27th of Sep 2022 at 11:14 am
$SPX - Chart Link- always watch that 61.8% Fib,
$SPX - Chart Link-
Update: SPX 3 and 5 min
Posted by matt on 27th of Sep 2022 at 11:33 am
$SPX - Chart Link- note you had a symmetry move there dotted lines
Update: SPX 3 and 5 min
Posted by matt on 27th of Sep 2022 at 11:25 am
$SPX - Chart Link nice pullback from that 61.8% Fib
Wave 4 type of action
Posted by steve on 27th of Sep 2022 at 11:31 am
Wave 4 type of action of some degree - I tend to avoid but did a scalp short today on open.
SPY - Did we just
Posted by DigiNomad on 27th of Sep 2022 at 11:34 am
SPY - Did we just complete C on 3 minute?
Third assault on the neckline.
Posted by mdgfain on 27th of Sep 2022 at 11:32 am
Third assault on the neckline. Does that favor the ice cracking this time?
exactly - which is why
Posted by matt on 27th of Sep 2022 at 11:32 am
exactly - which is why if you are trading this, use smaller time frames and bookem danno on you trades - get a lot of whip
but the intra day volatility in this market can be 30 - 50 points, so you can get nice quick trades on that - again you have to have your strategy down, charts ready, disciplined
one very simple strategy that
Posted by matt on 27th of Sep 2022 at 11:30 am
one very simple strategy that works very well, but requires you to be patient and wait for the setup, but works, is taking objective long or short trades near the 61.8% Fib retracements, they are very high probability. Again, requires you to wait for them and being patient, like lion waiting in the weeds for the right opportunity like a sick older animal or young not able to keep up with the herd, vs just chasing any pray that walks by.
Patience and waiting for the right setup is one of the hardest things to do for most. Again that's with whatever your strategy and setup is - waiting for it and not doing trades just to do trades
Yes, thanks for pointing that
Posted by retirefire on 27th of Sep 2022 at 11:33 am
Yes, thanks for pointing that out, Being wave 4 at the fib and failure above, I projected a downward move